Central Bank of Kenya (CBK)
Deputy Manager, Cyber Security – Payment Systems, Banking and Payment Services (BPS)
- Closing Date: Monday, 02 Sep 2024, at 5:00 p.m.
Job Purpose
The Deputy Manager, Cyber Security will play a critical role in safeguarding the integrity of the payment systems within the Banking and Payment Services (BPS) division. The role holder will be responsible for assessing both existing and emerging cyber risks across various payment platforms, including Retail Payment Systems (RPS) and Large Value Payment Systems (LVPS). This position involves reviewing and ensuring compliance with cyber security standards, laws, policies, guidelines, and frameworks, particularly under the National Payment System (NPS) laws. The Deputy Manager will be required to analyze statutory data, conduct audits, and monitor market developments and consumer complaints to recommend corrective actions where necessary. Additionally, the role includes overseeing cyber security submissions for licensing, ensuring they align with NPS laws, guidelines, and best practices.
Key Duties and Responsibilities
Strategic Responsibilities
- Contribute to Strategic Objectives: Actively participate in achieving the overall strategic goals of the Banking and Payment Services (BPS) division.
Technical and Operational Responsibilities
- Oversight of Cyber Security: Monitor and evaluate cyber security measures across Retail Payment Systems (RPS) and Large Value Payment Systems (LVPS), including Automated Clearing House (ACH), Electronic Funds Transfer (EFT), card payments, mobile payments, and switch systems.
- Cyber Security Assessments: Conduct cyber security assessments of payment systems against Bank for International Settlements (BIS) core principles and established standards.
- Reporting: Assist in the preparation of oversight reports, including monthly, quarterly, and annual reports on payment systems.
- Data Requirements: Determine data needs and relevant returns to facilitate the oversight of payment system providers.
- Transaction Monitoring: Conduct online monitoring of transactions by Payment Service Providers (PSPs).
- Surveillance: Undertake both on-site examinations and off-site surveillance of PSPs to ensure compliance with regulatory requirements.
- Regulatory Enforcement: Administer and enforce the relevant Acts and regulations, taking appropriate supervisory actions against PSPs that contravene regulatory requirements.
- Infrastructure Identification: Identify and designate infrastructures that meet the criteria for Financial Market Infrastructures (FMIs).
- Audit Review: Review audit and incident reports, recommending necessary regulatory actions.
- Complaint Management: Manage and review customer or user complaints and inquiries related to payment systems or products.
- Implementation Monitoring: Continuously monitor the implementation of recommendations aimed at enhancing critical functions or rectifying weaknesses identified during oversight activities.
- Risk Identification: Identify weaknesses and action points within the operation of payment systems, suggesting areas for improvement.
- Inspection Preparation: Prepare inspection programs, develop pre-inspection templates, and create risk assessment matrix templates.
- Industry Collaboration: Work with industry stakeholders to develop and implement awareness and capacity-building programs focused on cyber security within payment systems.
- Research and Guidance: Stay informed on global and local threats, technologies, and vulnerabilities impacting payment systems, providing guidance to both the Bank and the industry.
- Guideline Development: Develop guidelines, circulars, and other relevant supervisory tools for cyber security.
Other Responsibilities
- Additional Duties: Perform any other duties as assigned by the Manager and Assistant Director.
Qualifications
Educational Background
- Bachelor’s Degree: Must possess a Bachelor’s Degree in a relevant field such as Information Technology, Computer Science, or a related discipline.
Professional Certifications
- Information Security Certifications: Possession of professional information security certifications such as CISA, CISSP, GIAC, CEH, or OSCP is essential. Additional certifications related to cyber risk and relevant memberships are considered advantageous.
- International Certifications: Recognized international and professional certifications in Information Technology, such as ITIL Service Management, ISO 20000 or 27001 Lead Implementer/Audit, or COBIT, will be an added advantage.
Work Experience
- Experience Required: A minimum of five (5) years of experience in information systems audit, cyber risk management, or related fields.
Competencies
Technical Competencies
- Payments and Banking Industry Knowledge: Comprehensive understanding of issues related to card payments, retail payment innovations, security, P2P switch providers, and mobile payments & banking.
- Best Practices and Standards: Familiarity with internationally accepted best practices and standards for effective oversight of payment systems.
- Regulatory Knowledge: Strong knowledge of Banking and Payments Laws & Regulations.
- Technology Proficiency: Adept in payment technologies and innovations.
- Risk Management: Expertise in Risk Assessment Management frameworks.
- Analytical Skills: Demonstrated ability to analyze complex data and situations with creative problem-solving skills.
- Cyber Risk Skills: Specialized skills in cyber risk management, information systems audit, and security.
- Security Awareness: In-depth knowledge of security and cyber risks associated with payment systems.
- System Monitoring: Ability to monitor system performance and security effectively.
Behavioral/General Competencies
- Team Collaboration: Ability to work collaboratively within a team environment.
- Decision-Making: Strong decision-making skills.
- Professionalism: High levels of professionalism in all aspects of the role.
- Communication: Excellent communication skills.
- Customer Orientation: A strong focus on customer satisfaction and service orientation.
- Integrity and Ethics: Unwavering commitment to integrity, honesty, and ethical behavior.
- Resilience: The ability to remain resilient and composed under pressure.
- Mentoring and Coaching: Capable of mentoring and coaching team members to develop their skills.
- Change Management: Ability to drive change within the organization.
- Consensus Building: Proficient in building consensus and influencing key stakeholders.
- Emotional Intelligence: Demonstrates high levels of emotional intelligence in interactions with others.
- Independence and Objectivity: Ability to maintain independence and objectivity in all professional duties.
Salary and Benefits
Compensation Transparency
- Competitive Salary: The position offers a competitive salary, commensurate with experience and qualifications.
- Additional Benefits: Comprehensive benefits package including health insurance, pension scheme, paid time off (PTO), opportunities for professional development, and more.
Work Environment
- Work Location: The role is based in Nairobi, Kenya.
- Company Culture: A culture of integrity, innovation, and collaboration is at the heart of our operations.
Application Process
How to Apply
Candidates interested in applying for the position of Deputy Manager, Cyber Security – Payment Systems are encouraged to submit their applications promptly.
- Apply Now: Click the following link to submit your application: Apply Now
Application Deadline
- Deadline: Applications must be submitted by Monday, 02 Sep 2024, at 5:00 p.m. Incomplete applications will not be considered.
Equal Opportunity Employer
The Central Bank is an equal opportunity employer and is committed to creating a diverse and inclusive work environment. We do not charge any application or recruitment fees, whether refundable or not.
Company Overview
About the Central Bank
The Central Bank of Kenya (CBK) is a prestigious institution that plays a vital role in regulating the financial sector and ensuring economic stability within Kenya. The Banking and Payment Services (BPS) division is at the forefront of this mission, tasked with overseeing and safeguarding the payment systems that form the backbone of the nation’s economy.
Our Mission and Values
The Central Bank is committed to promoting monetary stability, fostering financial sector development, and providing exceptional public service. Integrity, transparency, and innovation are core values that drive our work and define our organizational culture.
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Why Work with Us?
Working at the Central Bank offers the opportunity to contribute to the financial well-being of the nation while developing a rewarding and fulfilling career. Our employees enjoy a collaborative work environment, continuous professional development opportunities, and the satisfaction of making a positive impact on Kenya’s economic future.
To apply for this job please visit careers.centralbank.go.ke.
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